Puravankara, a prominent name in real estate, has unveiled its ambitious venture into redevelopment with a prestigious project in Mumbai’s sought-after Pali Hill locality. Nestled in the upscale Bandra West area, this project promises a combined estimated development potential of 4.10 lakh sq ft carpet, with approximately 2.15 lakh square feet available for sale. With a projected Gross Development Value (GDV) surpassing Rs 2,000 crore, this endeavor signifies a significant stride for Puravankara in Mumbai’s real estate landscape.
Renowned for its luxurious residences, Pali Hill commands property rates ranging from Rs 1 Lakh to Rs 1.20 lakh per sq ft. Spanning over two and a half acres, the residential society marked for redevelopment stands as one of the largest projects in its micro-market. Its strategic positioning amidst upscale environs adds to its allure for both homebuyers and investors alike.
Puravankara’s expansion blueprint encompasses the redevelopment of three to four prestigious housing societies in Mumbai, underscoring the company’s dedication to capitalizing on the city’s thriving real estate sector. Abhishek Kapoor, Executive Director and CEO of Puravankara, outlines the company’s ambitious goal of delivering 2,000 units by the fiscal year’s end, with development potential exceeding 2 million sq ft across Bengaluru, Pune, Chennai, and Mumbai.
The company’s strategic focus on redevelopment initiatives mirrors its commitment to revitalizing Mumbai’s urban fabric. Engaged in over 12 redevelopment projects and exploring additional opportunities, Puravankara emerges as a pivotal player in reshaping the city’s skyline. Kapoor highlights the successful conclusion of a redevelopment project with a GDV of Rs 1,500 crore, emphasizing the company’s proficiency and dedication to delivering high-value ventures.
Puravankara’s forthcoming developments strategically span key locales such as Whitefield, Sarjapur, and Bellandur in Bengaluru; Kelambakkam outside Chennai; Khondwa in Pune; and Chembur and Dombivli in Mumbai. These areas present vast growth potential, aligning seamlessly with the company’s vision to cater to diverse market segments and geographical regions.
Puravankara’s debut in the redevelopment realm within Mumbai’s esteemed Pali Hill enclave marks a significant stride towards harnessing emerging opportunities in the real estate domain. With an unwavering commitment to quality, innovation, and customer satisfaction, the company remains poised to uphold its legacy of delivering exemplary projects that redefine urban living standards.